Description
27 En Suite Bedrooms; Lift to all Floors;
Ground Floor Lounge Bar; 55 Seater Restaurant;
2 Bedroom Owners Accommodation; Car Park
The property comprises two Grade II Listed Georgian Houses at the end of the terrace over 5 floors with many rooms benefitting from a sea view.
The hotel is located on the famous Esplanade within walking distance of the train and bus stations, town centre and harbour.
Tenure: The agents are informed that the property is held by a secure 60 Year FRI lease from Dorset Council which commenced in 2008 at a current rent of £47,400 p.a. rent with 5 year rent reviews – these dates and amounts subject to confirmation.
The Business – Currently a successful coaching holiday hotel which has been in the present hands since 2000 and is now for sale as the owner wants a change. The agents understand there are good bookings in place for 2022.
The hotel is run by the proprietor and a loyal team of local staff and trades for approx. 10-11 months of the year.
The agents are informed that the business takes approx. £250,000 – £300,000 per annum – exact figures will shortly be available to the agents.
Weymouth has been in the process of change in the past few years and Lawrence Wright, the main agent for hotels here, has seen investment in some of the hotels and guest houses which has raised the tariff for these businesses from below £100 per room per night to between £150 and £250 per night – this has been possible partly through the facilities that Weymouth and the area has to offer but also through being within 3 hours of London and not being over bedded compared with other resorts. There is the opportunity here for a change in the style of trading provided substantial investment takes place.
Price: £450,000 sav
